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M5 CPO Pricing

I have been flirting with bailing on my '03 540 and going back to an M5. I did this once before in 2003, and ended up selling my M5 when my 16 y/o got his license.

There is a sterling gray '03 M5 on Autotrader for $40K. This is a CPO car with 26K miles. This is the best price I have seen and is substantially below anything else. I wonder if this is legit. It may be that the bottom is blowing out on these prices as virtually none of the M5's on Ebay are getting any action. What do you all think?

PS Have you all noticed the huge down draft in the new M5's used pricing. You never saw that 1-2 years post the E39's intro.
What it the cause? Bangle, SMG, price, the economy? Interesting.